AUD/NZD Price Forecast: Aussie down but uptrend remains intact, AUD/NZD into 1.0900


Share:
  • The AUD/NZD is falling back after peaking on Wednesday.
  • Antipodean cross pair is cycling familiar territory as bulls refuse to go down.
  • AUD losing upside momentum could signal another turn towards the downside.

The AUD/NZD is trading back into the 1.0900 handle, a level that has been trapping the cross pair for most of 2023. 

The Aussie (AUD) has seen a firm recovery since bottoming out in early October near 1.0625, but bullish momentum appears to be draining out of the charts quickly as intraday action begins to print exhaustion patterns.

On the daily candlesticks, the Relative Strength Index (RSI) has begun to roll over into a bearish trend after tipping into overbought territory last week, but traders will note that the Moving Average Convergence-Divergence (MCAD) oscillator still hasn't seen a slow-MA crossover confirming aa bearish bias in candlesticks yet.

The median point for price action currently sits near 1.0825 where the 50-day and 200-day Simple Moving Averages (SMA) are currently converging as long-term momentum drifts into the middle.

AUD/NZD Hourly Chart

AUD/NZD Daily Chart

AUD/NZD Technical Levels

AUD/NZD

Overview
Today last price 1.0906
Today Daily Change -0.0032
Today Daily Change % -0.29
Today daily open 1.0938
 
Trends
Daily SMA20 1.0784
Daily SMA50 1.0809
Daily SMA100 1.0825
Daily SMA200 1.082
 
Levels
Previous Daily High 1.0939
Previous Daily Low 1.0862
Previous Weekly High 1.0915
Previous Weekly Low 1.0823
Previous Monthly High 1.093
Previous Monthly Low 1.0624
Daily Fibonacci 38.2% 1.091
Daily Fibonacci 61.8% 1.0891
Daily Pivot Point S1 1.0887
Daily Pivot Point S2 1.0836
Daily Pivot Point S3 1.081
Daily Pivot Point R1 1.0964
Daily Pivot Point R2 1.099
Daily Pivot Point R3 1.1041

 

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content

Editors’ Picks

EUR/USD trades firmer above 1.0800 ahead of Eurozone PMI data

EUR/USD trades firmer above 1.0800 ahead of Eurozone PMI data

EUR/USD is extending gains above 1.0800 in the European morning on Thursday. A broadly subdued US Dollar and US Treasury bond yields, amid a risk-on mood, are helping the pair ahead of the top-tier preliminary PMI data from the Eurozone and the US. 

EUR/USD News

GBP/USD trades with modest gains near 1.2650, awaits UK, US PMIs

GBP/USD trades with modest gains near 1.2650, awaits UK, US PMIs

GBP/USD posts mild gains to trade near mid-1.2600s in early Europe on Thursday. The pair is finding support from a weaker US Dollar and an improved risk appetite. All eyes now remain on the UK and the US flash PMI data for fresh trading impetus. 

GBP/USD News

Gold eyes a fresh uptrend on a sustained move above $2,035

Gold eyes a fresh uptrend on a sustained move above $2,035

Gold price has resumed its bullish momentum near $2,030 early Thursday, having paused its recovery rally on Wednesday. A risk-on market environment is acting as a headwind for the US Dollar, despite the hawkish US Fed January meeting Minutes.

Gold News

Sei price deviation below range high may mean only one thing for SEI holders – 18% crash

Sei price deviation below range high may mean only one thing for SEI holders – 18% crash

Sei (SEI) price has had a shocking and awe-inspiring rally over the past few weeks and has raked in 345% gains in the past two months. But the recent developments suggest SEI could be ready to slide lower.

Read more

NVDA Q4 results trounce consensus

NVDA Q4 results trounce consensus

Nvidia beat earnings consensus from Wall Street by a large margin on Wednesday, and the stock jumped more than 3% afterhours. Consensus had been $4.64 in adjusted EPS for the quarter ending in December, but Nvidia posted $5.16.

Read more

Forex MAJORS

Cryptocurrencies

Signatures